FoodLogiQ, a Durham, NC-based provider of traceability, food safety and supply chain transparency solutions, raised $19.5m in growth financing.
Backers included strategic investors Testo, Inc., a global provider of HACCP solutions and IoT technology, and Tyson Ventures, the corporate venture subsidiary of Tyson Foods, along with Pontifax AgTech, Nicola Wealth Management, and Greenhouse Capital.
The round was led by Renewal Funds when the firm invested in FoodLogiQ in September 2017.
The company intends to use the funds to accelerate product enhancements, research and development and expanded sales, marketing and customer success and expansion across the food industry.
Led by Dean Wiltse, CEO, FoodLogiQ provides a SaaS based platform, which enables supplier management, food safety compliance, quality incident management, recall management and whole chain traceability.
The company boasts a customer base that includes Buffalo Wild Wings, CAVA, Chipotle Mexican Grill, CKE Restaurants, Compass Group USA, Five Guys Burgers and Fries, IPC/SUBWAY, Panda Restaurant Group, Raising Cane’s and Tropical Smoothie Cafe.
FoodLogiQ’s reach extends across the entire supply chain to include food manufacturers such as Hain-Celestial and Seal the Seasons, food retailers including Whole Foods Market, as well as hundreds of growers, co-packers and produce marketers.